Dogecoin Attempts Fresh Recovery as ETF Launch Lifts Market Sentiment

Dogecoin is making another attempt at recovery after a brief pullback, with its price hovering near $0.14. 

Market sentiment surrounding the meme coin has shifted notably over the past 24 hours, driven by improving technical conditions, renewed whale accumulation, and optimism following the latest Dogecoin ETF listing. 

Despite the improved outlook, the real challenge remains a major resistance zone that continues to cap Dogecoin’s upside potential.

Reversal Structure Appears as Dogecoin Registers Bullish Divergence

A clean technical reversal setup has formed on the Dogecoin daily chart shortly after the launch of the new Grayscale DOGE ETF. Between November 4 and November 21, Dogecoin printed a lower low on price while the Relative Strength Index (RSI) posted a higher low. 

This bullish divergence pattern commonly signals the exhaustion of a downtrend and hints at an early trend reversal.

Following the divergence signal, Dogecoin surged more than 15 percent, reinforcing trader confidence that momentum is shifting away from the bears.

Whale Cohorts Accumulate More Than 1 Billion DOGE

Strengthening the reversal narrative, two major whale groups have resumed accumulation. The cohort holding between 100 million and 1 billion DOGE increased its balance from 35.34 billion to 36.31 billion coins starting November 19. 

Meanwhile, a second cohort holding between 1 million and 10 million DOGE began adding coins on November 22, growing its balance from 10.85 billion to 10.92 billion DOGE.

Combined, these holders accumulated 1.04 billion DOGE valued at approximately $153 million at current prices. This marks one of the strongest accumulation waves in recent months, reinforcing bullish expectations and supporting the emerging reversal pattern.

Outlook: Key Resistance Remains the Final Barrier

While technicals and on-chain behavior are turning in Dogecoin’s favor, the path upward still hinges on clearing a major resistance level above the current market price. Breaking that threshold remains the final confirmation needed for a sustained recovery.

For now, Dogecoin’s improving momentum, renewed whale activity, and ETF-driven sentiment shift collectively form one of the strongest setups the asset has seen in recent weeks. Market participants are watching closely to see whether the bullish structure can carry Dogecoin into a larger trend reversal.